Clifton apartment sets new record as most expensive in South Africa

A buyer purchased a luxury apartment in Clifton for an astonishing R145 million, setting a new record as the most expensive apartment ever sold in South Africa.

The five-bedroom home, located along 1st Beach, boasts cutting-edge finishes, panoramic ocean views, and spacious entertainment areas that exemplify top-tier coastal living.

Buyer resides in Monaco

Industry experts estimate the property spans over 300 square metres and includes generous en-suite bedrooms, a sleek open-plan layout, private terraces, and custom finishes.

While the seller’s identity remains unknown, reports identify the buyer as a former South African now living in Monaco.

This sale breaks the previous national apartment record of R120 million and underscores the rising demand for ultra-luxury properties along the Atlantic Seaboard, especially in Clifton, often referred to as South Africa’s ‘Billionaire’s Row’.

John Lawson, CEO of the Cape Chamber of Commerce and Industry, said the record-breaking sale reflects a growing trend of property investors choosing Cape Town over other regions in South Africa, thanks to its effective governance, dependable infrastructure, and superior quality of life.

“There’s a noticeable gap between Cape Town and other metros when it comes to service delivery. That difference is being reflected in the property market,” Lawson said.

In recent years, Cape Town has consistently drawn more local and international buyers than other metros, particularly in high-net-worth markets.

Clifton property continues to fetch premium prices, as buyers compete for its limited supply, top-tier amenities, and breathtaking coastal views.